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HK Customs Arrest 5 Individuals for Involvement in Money Laundering of $8.9B
2025-12-23 16:25:23 Hong Kong Customs mounted an enforcement operation codenamed "Mirage" on December 18 and 19 and successfully dismantled a money laundering syndicate. Five local persons suspected to be connected with the case were arrested. They were suspected of laundering about $8.9 billion in funds from unknown sources via fictitious trading activities. Acting upon intelligence, Customs targeted three local persons and initiated a financial investigation. It was revealed that the three persons opened multiple local company and personal bank accounts between January 2022 and December 2025 to deal with over 3,700 suspicious transactions totaling about $8.9 billion. After an in-depth investigation, Customs conducted the enforcement operation on the aforesaid dates. Two local males and three local females, aged between 28 and 59 and suspected to be connected with the case, were arrested for "dealing with property known or reasonably believed to represent proceeds of an indictable offence" (commonly known as money laundering) under the Organized and Serious Crimes Ordinance (OSCO). During the operation, Customs raided multiple local premises, including three residential units and three commercial premises. A batch of items suspected to be connected with the case, including a number of mobile phones, cheque books, and trade documents, was seized. About $55 million worth of assets under the names of the arrestees have been frozen and put under close monitoring. The investigation is ongoing. The five arrested persons have been released on bail pending further investigation, and the likelihood of further arrests is not ruled out. ~ AASTOCKS Financial News Website: www.aastocks.com | |